Maximize your impact at any budget
Maximize your impact at any budget
Strategies to strengthen your messaging and grow your business
Many businesses are scrutinizing their operations in 2024—including serious cost-cutting measures.
Whether you’re among these businesses, have already been operating with a small team, or are a solopreneur, today’s letter is about making the most of what you’ve got.
Let’s dig in.
Today’s agenda:
🧠 The science behind your customers’ behaviors
💰 Tips for growing your business in 2024
✍️ Small content budget? No problem
💼 Briefly — our quick news roundup
⏱️ Up & coming
🤔 The power of behavioral economics
Behavioral economics unlocks why people make the choices they make—and helps marketers leverage this information to appropriately frame their messaging.
In marketing expert Melina Palmer’s book, “What Your Customer Wants and Can’t Tell You: Unlocking Consumer Decisions with the Science of Behavioral Economics,” she explains the following behavioral concepts:
Framing: The way information is presented or “framed” can influence the decisions people make (negative vs. positive framing, open-ended requests, etc.)
Priming: Affects how individuals perceive and interpret information based on previous experiences or stimuli encountered
Anchoring: Occurs when individuals rely too heavily on the first piece of information they receive (the “anchor”) when making decisions
Relativity: Involves comparing options or outcomes to each other rather than assessing them in isolation (a $100 discount may seem significant when applied to a high-priced item but less significant when applied to a lower-priced item)
💡 By understanding these key concepts, marketers can carefully craft messaging that takes into account the customer’s decision-making processes and cognitive biases.
The result? Higher conversions!
📈 Growth strategies for small businesses
A recent Intuit Quickbooks report found that the No. 1 priority for business owners in 2024 is increasing revenue.
Rich Rao, senior VP of market development and strategy at Intuit Quickbooks, has the following advice for boosting revenue this year:
Establish and define financial goals that make you feel successful
Focus on attracting and hiring top talent with specific job descriptions and good benefits
Use data analytics to enhance your sales strategies
Leverage digital tools to monitor cash flow—and maintain a solid strategy for credit card use
💡 Defining and understanding your KPIs (and regularly monitoring them with digital tools) are key factors in reaching your goals in 2024.
📚 Stronger content with fewer resources
Smaller teams or marketing teams of one are extremely common in 2024.
Meanwhile, you’re hearing at every turn how crucial content is for your business.
What’s the solution?
Key actions to drive content
Software marketer Penny Gralewski, via Content Marketing Institute, has strategies for small budgets and big impact:
Your audience’s needs are constantly evolving—ask yourself what types of support they need and what questions they have right now
Have a friend walk through your website/buyer experience to point out issues or weaknesses
Include CTAs for content/subscriptions in multiple places
Collect more data via customer surveys or social media
💡 Also consider which projects are just too much right now, so you or your team can focus on what’s more important.
Briefly
🤖 Which chatbot subscription is right for you? Read this ChatGPT vs Gemini comparison
🏆 Infographic: The 25 most valuable brands in the world in 2024
🌎 Strategies for ranking in new markets (from local to international)
😆 Recent viral memes you may want to consider including in your social content
🧑💻 How to measure the benefits of influencer marketing (including what the C-Suite should care about)
Up & Coming
No matter how profitable, many companies are making 2024 the year of cutting costs—including thousands of jobs.